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Watch the Journey
A Lindt Truffle or a Hershey’s Kiss?
Which would you pick?
A Lindt Truffle for ¢26…or a Hershey’s Kiss for ¢1?
In the book Predictably Irrational, researchers did this experiment and found 50% of participants went for the Lindt and 50% went for the Kiss.
But then they dropped prices by a further ¢1…
And now 90% of participants wanted the Kiss because it was FREE.
This study changed everything for me.
It’s the reason why I give all the books in my Secrets Trilogy away for free (plus shipping).
And today, I want to tell you the impact it had.
Here’s the test I set up:
- I sent 100 people to a website with a product worth $197
- We ran paid ads to a cold audience
- We tested and tested until we had a consistent 1% conversion rate
And then I did an experiment.
I splintered off one part of the product and offered it for FREE (plus shipping)…
Here’s what happened:
- We started getting an 8% conversion rate for the free-plus-shipping offer
- 2 out of 8 people would then buy the $197 product as an upsell
- I was now making $394 per 100 visitors instead of $197!
The initial landing page was EXACTLY the same.
But now I doubled my money and got 8 new buyers on my list instead of 1.
Pretty neat, huh?
Now…
You might be asking: “Russell, why make people pay for shipping?”
This part is super important.
To make this funnel work, I needed to offer a product for free while also making people get their credit card out.
Otherwise, I couldn’t make the upsell work on the next page.
Make sense?
What could you offer for free-plus-shipping?
- A physical product?
- A book?
- A t-shirt?
- A physical tool?
- Or a creative offer that combines a FREE product with a low-ticket offer?
I’m excited to see what you come up with!
Talk soon,
- Russell Brunson
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